Tuesday, December 4, 2012

Indices closed down .11% to .18%......

Indices gave up gains to close lower.

S&P 500 closed @ 1407.05

RSI @ 51.38

CMF @ 0.000

Internals were :

Down volume led by 1.10 to 1 in NYSE & .95 to 1 in Nasdaq

Declining stocks led by 1.07 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were mixed +44 in NYSE & -7 in Nasdaq

VIX closed UP 2.28% @ 17.12

Oil closed @ $88.50

Gold closed @ $1695.80

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, as we did not close near low of the day, there is good reason to believe that downside may be contained now. TAPE is telling me that despite posturing by politicians, a deal is in the cards. I expect "risk on trade" to be in the vogue as early as Wednesday. I am expecting a green close after lower lows for two days.

BLOG does NOT give buy or sell.

Saleem

No comments: